Many American farmers and ranchers breathed a sigh of relief when the United States and Japan formally signed a U.S.-Japan Trade Agreement in September. However, U.S. agricultural producers are not completely out of the woods.
When it comes to variety meats, the best prices can typically be found in foreign countries where offal is more popular. International trade allows the U.S. meat industry to capitalize on differences in consumer preferences and maximize value.
Few Americans associate cheddar cheese with its ancestral home: Cheddar, in Somerset County, Britain. The name Cheddar, originally designating a unique geographic location, evolved into a generic description as the cheese was produced all over the world. And therein lies the heart of a modern trade dispute over “geographical indications,” or GIs for short.
The implementation of NAFTA has allowed U.S. beef trade to flourish, and the efficient supply chains developed under NAFTA have also helped the U.S. beef industry become more competitive in Asia.